Karti Chidambaram was granted anticipatory bail by the Madras High Court, hours after the Income Tax department had issued a warrant against him in a case relating to black money. He was granted bail in a midnight hearing of the Madras HC.
There are nearly 30,000 cases of tax evasion that are being probed by the Income Tax department.
The Income Tax Department said that it had identified 60,000 persons who had indulged in excessive cash sales during the demonetisation period of November and December. Out of this 1,300 are high-risk persons, the department has claimed. “This is the second round of clean up post the decision on demonetisation,” the Central Board of Direct Taxes has said.
At least 60,000 people will be issued notices by the Income Tax Department in what is known as a second round of clean up after the decision on demonetisation was made. The Central Board for Direct Taxes said that the IT department has introduced a second phase of its operations to detect black money post demonetisation.
Abuse of money power and assaulting CISF jawan are two points mentioned in the report of the Central Board of Direct Taxes which conducted a raid in Tamil Nadu ahead of the R K Nagar by-elections. In the report by the CBDT, it is mentioned that the Health Minister of Tamil Nadu, Vijaybhaskar had pushed a CISF jawan before speaking with reporters.
With complaints soaring the Income Tax Department in Kerala has launched a probe to find out if there were any wrong-doings by the the cooperative banks in in the state.
The IT department in Kerala is looking at the deposits made into cooperative banks with the old currency. The IT is looking at how these banks accepted the demonetised notes.
New Delhi, Nov 10: As banks start accepting huge wads of cash, there is the tax man watching all deposits. Those deposited above Rs 10 lakh in cash will be under scrutiny as always. However the monitoring of any deposit above Rs 2.5 lakh is particularly high today.
Today scores of people made a dash to the banks to exchange their old Rs 500 and 1,000 notes which were declared illegal tender on Tuesday.